Voya Investment Management LLC raised its stake in Mettler-Toledo International, Inc. (NYSE:MTD – Free Report) by 15.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,086 shares of the medical instruments supplier’s stock after buying an additional 10,841 shares during the period. Voya Investment Management LLC owned about 0.39% of Mettler-Toledo International worth $99,545,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. WPG Advisers LLC purchased a new position in shares of Mettler-Toledo International in the 1st quarter worth about $41,000. NewSquare Capital LLC lifted its position in Mettler-Toledo International by 94.4% in the 2nd quarter. NewSquare Capital LLC now owns 35 shares of the medical instruments supplier’s stock worth $41,000 after buying an additional 17 shares during the last quarter. MV Capital Management Inc. boosted its stake in Mettler-Toledo International by 50.0% in the second quarter. MV Capital Management Inc. now owns 36 shares of the medical instruments supplier’s stock worth $42,000 after buying an additional 12 shares in the last quarter. State of Wyoming bought a new position in Mettler-Toledo International during the second quarter valued at approximately $58,000. Finally, Sound Income Strategies LLC raised its stake in shares of Mettler-Toledo International by 477.8% during the second quarter. Sound Income Strategies LLC now owns 52 shares of the medical instruments supplier’s stock worth $61,000 after acquiring an additional 43 shares in the last quarter. 95.07% of the stock is owned by institutional investors.
Mettler-Toledo International Trading Up 0.9%
NYSE:MTD opened at $1,402.28 on Friday. The company has a 50-day moving average price of $1,410.43 and a 200-day moving average price of $1,300.33. The stock has a market cap of $28.65 billion, a price-to-earnings ratio of 34.97, a P/E/G ratio of 4.49 and a beta of 1.40. Mettler-Toledo International, Inc. has a 12 month low of $946.69 and a 12 month high of $1,525.17.
Insider Activity at Mettler-Toledo International
In related news, insider La Guerroniere Marc De sold 6,055 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $1,488.18, for a total value of $9,010,929.90. Following the sale, the insider directly owned 187 shares of the company’s stock, valued at $278,289.66. This represents a 97.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Shawn Vadala sold 1,000 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $1,511.00, for a total value of $1,511,000.00. Following the completion of the transaction, the chief financial officer owned 5,288 shares of the company’s stock, valued at approximately $7,990,168. This trade represents a 15.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 19,565 shares of company stock valued at $28,683,737 over the last ninety days. Insiders own 1.94% of the company’s stock.
Analyst Ratings Changes
Several research firms recently commented on MTD. Barclays reduced their target price on shares of Mettler-Toledo International from $1,600.00 to $1,550.00 and set an “overweight” rating on the stock in a report on Monday, December 15th. Wells Fargo & Company boosted their price objective on Mettler-Toledo International from $1,400.00 to $1,450.00 and gave the company an “equal weight” rating in a research report on Monday, December 15th. The Goldman Sachs Group initiated coverage on shares of Mettler-Toledo International in a research note on Tuesday, December 9th. They issued a “neutral” rating and a $1,475.00 target price on the stock. Morgan Stanley assumed coverage on shares of Mettler-Toledo International in a research report on Tuesday, December 2nd. They set an “equal weight” rating and a $1,550.00 price target for the company. Finally, Citigroup boosted their price objective on shares of Mettler-Toledo International from $1,600.00 to $1,700.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Mettler-Toledo International currently has a consensus rating of “Hold” and an average price target of $1,441.67.
Mettler-Toledo International Company Profile
Mettler-Toledo International Inc is a global manufacturer and distributor of precision instruments and services for laboratory, industrial and food retail applications. The company’s product portfolio includes laboratory balances and analytical instruments, industrial weighing systems, process analytics and sensors, metal detection and x-ray inspection equipment, checkweighers, and a range of automated inspection and data-management solutions. Mettler-Toledo also provides software, calibration and lifecycle services intended to support compliance, quality control and operational efficiency across customer facilities.
The company serves a broad set of end markets including pharmaceutical and biotech laboratories, chemical and food processors, logistics and manufacturing operations, and retail environments where accurate weighing and inspection are critical.
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